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LUXURY TAX: A tax on relatively expensive goods that are typically purchased primarily by the wealthy or affluent. A luxury tax is generally set up as an excise tax on the purchase price of a good over an specific amount. For example, a 10% tax on the purchase price of an automobile over $30,000 would be considered a luxury tax. Goods most likely subject to luxury taxies are (expensive) cars, jewelry, boats, planes, and furs. A luxury tax is, by design, a progressive tax that falls more heavily on those with more income. Like almost every tax, a luxury tax is controversial and debated, favored by those not paying and opposed by those paying.
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COMPETITION In general, the actions of two or more rivals in pursuit of the same objective. In an economic context, the specific objective pursued is usually either selling goods to buyers or buying goods from sellers.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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EPS
Earnings Per Share
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